Published on 5/13/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.55 million autocallable contingent interest notes on stocks
Chicago, May 13 – JPMorgan Chase Financial Co. LLC priced $1.55 million of autocallable contingent interest notes due Oct. 12, 2023 linked to the least performing of Facebook, Inc., Tesla, Inc. and Netflix, Inc. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 18% per year if each stock closes at or above its interest barrier level, 60% of its initial level, on the observation date for that period. Previously unpaid coupons will also be paid.
If each stock closes at or above its initial level on any quarterly review date the securities will be automatically called at par.
At maturity, the payout will be par unless the least performing stock closes below its 60% trigger level, in which case investors will be fully exposed to its decline from its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Facebook, Inc., Tesla, Inc. and Netflix, Inc.
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| Amount: | $1,545,000
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| Maturity: | Oct. 12, 2023
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| Coupon: | 18 %, paid quarterly, if each underlying stock closes at or above its interest barrier level on the related observation date; previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | Par unless least performing stock closes below its trigger level, in which case investors will be fully exposed to its decline
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| Call: | Automatically at par on any quarterly review date if each stock closes at or above its initial level
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| Initial levels: | $333.64 for Facebook, $782.75 for Tesla, $639.10 for Netflix
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| Interest barrier levels: | $200.184 for Facebook, $469.65 for Tesla, $383.46 for Netflix; 60% of initial levels
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| Trigger levels: | $200.184 for Facebook, $469.65 for Tesla, $383.46 for Netflix; 60% of initial levels
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| Pricing date: | Oct. 7, 2021
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| Settlement date: | Oct. 13, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.9%
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| Cusip: | 48132WZ51
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